Humbition, a newly launched early-stage venture firm focused on founder-led companies in New York City, has raised $30 million for its new fund. Zocdoc founder Cyrus Massoumi and Indiegogo founder Slava Rubin lead Humbition.
Humbition announces the close of a new $30 million operators fund investing in founder-led companies in New York City. Led by Zocdoc founder Cyrus Massoumi and Indiegogo founder Slava Rubin, the fund focuses on connecting early-stage firms with operators experienced in building and growing successful businesses.
humbition fills a void in New York where most early-stage investment firms have limited operator experience. The fund has cultivated an impressive roster of New York-based startup founders as advisors, including ClassPass founder Payal Kadakia, Warby Parker founder and CEO Neil Blumenthal, Compass founder and CEO Robert Reffkin, B Lab founder Andrew Kassoy, Charity: Water CEO and founder Scott Harrison and Casper founder and CEO Philip Krim.
“Our purpose is to protect the future. That means protecting the ideas that will define our future and the entrepreneurs who will build it,” said Massoumi. “We won’t invest in things that are purely financial opportunities that the world doesn’t need. We believe that these kind of purpose-driven companies are more likely to succeed in NYC and they will have the biggest outcomes. It’s our responsibility to ensure that they flourish.”
“We believe that operators as investors are a key part of what has made Silicon Valley so great,” said Rubin. “As a founder myself, I’ve always been passionate about connecting entrepreneurs with partners who understand the challenges that come with operating a startup. That’s why I’m thrilled to bring that ethos to New York City and help the incredible talent here connect with local investors who can help them build and grow their business.”
humbition has already invested in four portfolio companies reshaping their industries, including Burrow, which is transforming the furniture market with quality sofas delivered quickly. humbition partnered with company founders Stephen Kuhl and Kabeer Chopra because Massoumi and Rubin recognized untapped potential and a massive market opportunity in an industry still largely untouched by digital. The firm’s other portfolio companies are operating in stealth mode in the health tech, emerging food and consumer marketplace categories.
As successful founders who remain active operators, the humbition partners have a unique perspective for curating a portfolio of next generation businesses poised to win in high-growth categories. humbition has already attracted investments from other funds started by operators, including Founders Fund and Atomico.
“I know the value of having insights from a fellow founder and operator when starting a new business,” said Robert Reffkin, Founder & CEO of Compass. “I’m excited to connect with the talented founders in humbition’s portfolio and offer guidance based on my own experience in building and growing a company.”
“We’ve always admired Cyrus and Slava as founders with ideas that have literally changed the world,” said Burrow founder Kabeer Chopra. “With Burrow, we needed partners who could help us solve what is a major pain point for many consumers in the furniture buying industry. Given their track records and the success they’ve had, we knew we could trust them to get into the weeds and help us grow our business.”
humbition is an early-stage operators fund investing in mission-driven companies and the innovative entrepreneurs who founded them. Key areas of investment include marketplaces, consumer and health tech. Founded in 2018 by Cyrus Massoumi, founder of Zocdoc, Indiegogo founder Slava Rubin and COO Frederik Roikjer, the fund recently announced $30 million in total capital. humbition has invested in four portfolio companies, including online furniture startup Burrow and three others currently in stealth mode. The fund’s impressive roster of advisers includes founders from Compass, Warby Parker, ClassPass, Casper and many more.